This is a question we hear often from our clients and prospects. The short answer is YES, predictive coding software is viable for small, specialist firms.
The first question I would ask is whether the firm is considering an in-house or a hosted solution. It is important to define whether this firm has the type of caseload that warrants a licensed in-house solution (requiring maintenance, service, IT infrastructure, etc.), or would they be better to opt for a cloud-based hosted solution. Many law firms have opted for the latter as they receive all the functionality, with less risk and expense to the firm. Small specialist firms often receive the greatest advantage from using this software, giving them a competitive advantage against larger law firms who might not utilise such software, instead relying on more 'traditional' document review techniques. Often this is no more sophisticated than more people looking at more documents. This of course equates to more cost.
Recommind (www.recommind.com) offers a variety of pricing options for both in-house & hosted solutions One such option, Axcelerate Unlimited, allows you to pay a flat fee for the amount of data you need. As a subscription-based model, this is one of the most cost efficient offers on the market. Recommind also provides a hosted solution with pricing based on specific matters and data volume.
It is worth pointing out that the fundamental benefit derived from the use of predictive coding is to REDUCE the cost of e-disclosure for clients.
I would be more than happy to discuss your specific scenario and work towards a business case that makes sense for you and your firm.
Regards, Mark

Mark Cordy | 07 Feb 2013

Hi Mark,
Thanks for your comprehensive answer - I'll have a look at these options in more detail.
Regards,
Chris